Singapore shares rise for the first time in a week
SINGAPORE Oct 8 (Reuters) - Singapore shares rose on Tuesday for the first time in a week, in line with regional peers, though the U.S. government shutdown, now in its second week, weighed on the market and kept investors on tenterhooks.
The benchmark Straits Times Index rose 0.3 percent to 3,147.62 points, in line with a 0.2 percent gain in MSCI's broadest index of Asia-Pacific shares outside Japan .
"Our view that STI at 3,100 offers bargain-hunt opportunities on the presumption that US does not go into default stays valid," said analysts at DBS Vickers Securities.
The top two performers on the index included Jardine Cycle & Carriage Ltd, whose shares rose over 3 percent, and Global Logistic Properties Ltd, which gained more than 2 percent.
Blumont Group Ltd shares, which tumbled 85 percent after the Singapore Exchange lifted a trading suspension on Monday, jumped 62 percent to S$0.21, after the company named a new chairman.
Steel trader and manufacturer Albedo Ltd rose 40 percent to S$0.042, after the company announced more details on a S$774 million takeover by a company controlled by Malaysian businessman Danny Tan in a deal that will see Albedo join international property developers buying up land in Malaysia's Iskandar region.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Last-minute Obamacare exemption for those with canceled plans
- U.S. diplomats, but not prosecutors, seek to quell India dispute |
- Target cyber breach hits 40 million payment cards at holiday peak |
- New York Mayor-elect's reputation for lateness parodied on Twitter